logo

Enterprise Group deal in line- LeapFrog Investments

Accra, July 9, GNA – LeapFrog
Investments the profit-with-purpose investor in emerging markets, says its
landmark deal with the Enterprise Group is in line with its strategic vision to
enter and operate in markets within West Africa.

Speaking in an
interview with the media after Enterprise Group meeting with some stakeholders
in Accra, Doug Lacey, Partner, LeapFrog said the investment firm decided to
collaborate with Enterprise Group because of the robust platform it had been able
to build over the years for growth in West Africa.

Mr Lacey said LeapFrog
had already started working with Enterprise Group to look at how we can enter
Nigeria and I think there are other countries in the Region that would be of
interest.

“The investment
agreement between Leapfrog and Prudential one of the other countries in West
Africa they are interested in is the Ivory Coast. So I think once we are able to
make progress with Nigeria we will then explore other countries one of them
could be the Ivory

Coast,” he said.

He said LeapFrog
planned to inject 50 million dollars capital into the operations of Enterprise
Group, adding: “We may consider injecting more capital if the need arises.”

Enterprise Group
Limited recently introduced a new strategic partner Black Star Holdings Limited
(BSI-IL), a wholly owned subsidiary of LeapFrog Strategic African Investments
(LSAI), which acquire Sanlam’s stake in the three subsidiary companies of
Enterprise Group for $130 million.

The three subsidiary
companies, namely Enterprise Life, Enterprise Insurance and Enterprise
Trustees.

I-SAI is a separate
account managed by LeapFrog Investments and in which Prudential Financial, Inc is
a primary investor. LeapFrog Investments have $1 billion in assets under
management and a portfolio of companies across Africa and Asia focused on
financial services and health.

Mr Keli Gadzekpo, CEO
of Enterprise Group, said the Group was delighted to welcome Leapfrog Investments
into the Enterprise Family and expressed the hope to leverage on network of
global insurance contacts and experience, and also the capacity to provide
growth capital towards the realisation of our very ambitious strategic objectives.

GNA

Please follow and like us:

Share
#

Write a comment

3+8 = ?